Piraeus Bank Finances Development of Major Transit Hub in Greece

22.10.2018

Piraeus Bank, Greece’s biggest lender, has announced it will finance the development of the Thriassio Transit Center, which will help increase freight transport by rail and promote Greece as a major freight hub in the trans-European transport network.

It will contribute to the provision of upgraded services while also reducing transport costs, which are key factors in lowering the final price of products, having a direct positive impact on the competitiveness of the economy and GDP growth.

Piraeus Bank says that the project is also expected to boost local employment by creating up to 5,000 jobs over the next 10 years. The new Thriasio Transit Center is expected to become operational in 2024.

Chief Executive Officer, Christos Megalou said: “Piraeus Bank is always looking for suitable investment projects that align with our strategy to be a pillar of stability for the Greek economy and we are proud to be financing such a significant infrastructure project in Greece.”

The 588-acre concession agreement for 60 years was signed between the Greek State, GAIOSE and the company THEK SA, which will carry out the project and with 80 percent of ETVA Industrial Area and 20 percent of Goldair.

The financing of the project will be carried out with the participation of the company THEEK SA. and a loan from Piraeus Bank, which is a shareholder of ETVA Industrial Area of 65 percent.

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